Peter Obi Makes Strong Points on Nigeria Economy, Says “The Two-Tier Foreign Exchange Regime Is a Fluke”

• Peter Obi, the presidential candidate of the Labour Party, has called on the government to go beyond the funding of SMEs and create an enabling environment for businesses to grow
• The presidential hopeful added that there is an urgent need for the country to establish a legal framework for foreign investors and indigenous organisations to operate better
• The former governor of Anambra state lamented the unfortunate scenario where the Nigerian market has never determined exchange rate in the country

The presidential candidate of the Labour Party, Peter Obi, has shared his view on the state of the Nigerian economy.

The former governor of Anambra state took to his verified Twitter page on Sunday, September 4, stating that if elected, his administration would create enabling environment for start-ups to grow beyond just funding.

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How government can grow Nigeria's economy - Peter Obi

The presidential hopeful added that there is an urgent need for the Nigerian government to provide a legal framework for foreign investors and indigenous partners.

He added that it is the only way to improve the business environment and stabilize capital flight.

He stressed the need for the country to stop borrowing for consumption while noting that all loans must be invested in regenerative projects.

Has Nigerian market ever determined exchange rate?

The Labour Party flagbearer argued that the Nigerian market force has not determined the exchange rate for the naira for a long time, adding that:

“The two-tier foreign exchange regime is a fluke. It has to end. Let the exchange rate be determined by the forces of demand and supply. It is that simple.

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He then urged the government to collaborate with private sections on his suggestions and create a friendly environment to raise employment chances, adding that expanding the SMEs cluster by creating unrestricted access to funding.

Reactions as huge amount Nigerians in diaspora paid to listen to Peter Obi’s speech is revealed

Legit.ng earlier reported that reactions have trailed the allegation of the former presidential aide, Reno Omokri, that the presidential candidate of the Labour Party, Peter Obi, is cashing out with the 2023 poll.

Omokri alleges that Peter Obi is aware that he cannot win the next year's election, which was why he charges high for people to listen to his speech on his recent trip oversea.

However, netizens responded to him that he should know that people pay for venues to attend political events and listen to their candidates oversea.

Source: Legit.ng